Sinda Ltd., a silver exploration and development company in Mexico, reported financial results for the quarter ended June 30, 2026, posting a net loss of $16.6 million compared to $2.2 million in the prior year period due to increased exploration spending and IPO-related administrative costs. The company completed its initial public offering on the NYSE in late June, raising approximately $213 million gross, followed by an overallotment exercise in July that added $23 million gross. Concurrently, Fresnillo plc acquired a 5.0% stake via a placement of nearly 8 million shares for $95.3 million gross, bringing total IPO-related proceeds to roughly $331 million. Post-IPO liquidity stands at approximately $320.7 million with zero debt. Operationally, Sinda completed its Phase 1 surface drilling program totaling 60,810 meters and initiated preparations for a 9-kilometer underground exploration decline construction in the second half of 2026.